Press Release

Trading update

Publish Date : 03 February 2015 08:00 CET -

Amsterdam, The Netherlands

In the course of 2014, TNT appointed a new management team and launched its new Outlook strategy with the aim of bringing the company back to sustainable value creation. In September 2014, TNT updated the market that it will take three to five years to realise the full benefits of the Outlook investment and restructuring programs. The Outlook strategy is in full implementation mode.

In the process of completing the assessment of its fourth quarter 2014 results, to be published on 17 February, TNT reassessed its tax assets and liabilities. As a consequence, TNT's bottom line net income in the fourth quarter will include non-recurring tax expense items totaling €77 million, which include a €67 million non-cash valuation allowance on deferred tax assets. Furthermore, TNT is changing its accounting treatment for the PIS/COFINS taxes in Brazil. This reclassification will result in €17 million lower reported operating income for the full year 2014 of which €5 million in Q4 2014, but with no impact on net income.

TNT will give a full update on its Outlook strategy on 18 February during the Capital Markets Day. The company will provide financial guidance for the next three to five years when it announces its fourth quarter results (17 February).

About TNT
TNT is one of the world’s largest express delivery companies. On a daily basis, TNT delivers close to one million consignments ranging from documents and parcels to palletised freight. The company operates road and air transportation networks in Europe, the Middle East and Africa, Asia-Pacific and the Americas. TNT made €6.7 billion in revenue in 2013.